tech2 News Staff Aug 17, 2018 11:57:17 IST
Most of us grew up watching a 10 channel cable network, and now today we have progressed to binge watching multiple seasons of TV shows all at once. It's quite clear that the way we consume video content now and a few decades ago has changed thanks to platforms like Netflix, Hotstar, and Amazon Prime.
While currently the evolution in viewing content is being seen in the form of platform-exclusive content, Amazon looks to be having slightly different plans for the direction video content may be headed to.
According to a report by Bloomberg, Amazon is reportedly in talks to acquire Landmark Theatres, in order to maintain its own chain of movie theatres. The chain falls under the umbrella of Wagner/Cuban Companies., an entertainment group co-owned by billionaires Todd Wagner and Mark Cuban.
Reportedly, Amazon is looking to buy Landmark and its 50 locations in New York, Philadelphia, Chicago, Los Angeles and San Francisco. “Pushing into movie theaters would follow Amazon’s expansion into myriad other forms of media, including a film and TV studio and music service,” the report reads.
Interestingly, Netflix was also reported to be working at buying Landmark Theatres.
While these plans do sound great, Bloomberg notes that a 1948 legal decision known as the Paramount Decree prevents any movie production company to own movie theaters. Consequently, this decision could stand in the way of Amazon, which produces movies under its own banner. However, there is also report that the American government may terminate the rule.
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